Legal & General Group Plc Grows Position in Global Payments Inc. $GPN

Legal & General Group Plc grew its stake in Global Payments Inc. (NYSE:GPN) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,658,880 shares of the business services provider’s stock after purchasing an additional 16,912 shares during the period. Legal & General Group Plc’s holdings in Global Payments were worth $128,397,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Traynor Capital Management Inc. boosted its position in Global Payments by 3.5% in the 4th quarter. Traynor Capital Management Inc. now owns 4,221 shares of the business services provider’s stock worth $327,000 after purchasing an additional 141 shares in the last quarter. Allworth Financial LP increased its stake in shares of Global Payments by 43.2% in the 3rd quarter. Allworth Financial LP now owns 610 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 184 shares in the last quarter. Oakworth Capital Inc. increased its stake in shares of Global Payments by 1.7% in the 3rd quarter. Oakworth Capital Inc. now owns 11,271 shares of the business services provider’s stock valued at $936,000 after purchasing an additional 186 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Global Payments by 0.6% in the 3rd quarter. Van ECK Associates Corp now owns 30,262 shares of the business services provider’s stock valued at $2,514,000 after purchasing an additional 187 shares in the last quarter. Finally, Huntington National Bank increased its stake in shares of Global Payments by 13.3% in the 3rd quarter. Huntington National Bank now owns 1,716 shares of the business services provider’s stock valued at $143,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Stock Up 0.7%

NYSE GPN opened at $73.99 on Friday. The business has a fifty day moving average price of $69.05 and a 200 day moving average price of $73.52. Global Payments Inc. has a one year low of $62.45 and a one year high of $90.64. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $20.24 billion, a P/E ratio of -36.27, a P/E/G ratio of 0.41 and a beta of 0.75.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, May 6th. The business services provider reported $2.96 EPS for the quarter, beating the consensus estimate of $2.82 by $0.14. Global Payments had a positive return on equity of 13.11% and a negative net margin of 7.99%.The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the company earned $2.82 EPS. The firm’s revenue was up 63.1% compared to the same quarter last year. Global Payments has set its FY 2026 guidance at 13.800-14.000 EPS. Research analysts anticipate that Global Payments Inc. will post 13.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, June 12th. Global Payments’s dividend payout ratio is currently -49.02%.

Analyst Ratings Changes

GPN has been the subject of several recent analyst reports. BNP Paribas Exane cut their price target on Global Payments from $64.00 to $60.00 and set an “underperform” rating for the company in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft cut their price target on Global Payments from $80.00 to $75.00 in a research note on Monday, May 11th. BMO Capital Markets initiated coverage on Global Payments in a research note on Tuesday, April 21st. They issued a “market perform” rating and a $76.00 price target for the company. Cantor Fitzgerald cut their price target on Global Payments from $88.00 to $76.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. Finally, The Goldman Sachs Group initiated coverage on Global Payments in a research note on Monday, March 9th. They issued a “hold” rating and a $88.00 price target for the company. Four analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Global Payments has a consensus rating of “Hold” and a consensus price target of $84.29.

About Global Payments

Global Payments Inc (NYSE: GPN) is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.